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Glu Mobile (
GLUU) designs, markets and sells mobile games. This stock closed up 5.3% to $2.35 in Thursday's trading session.
Thursday's Range: $2.23-$2.44
52-Week Range: $1.99-$5.16
Thursday's Volume: 3.54 million
Three-Month Average Volume: 1.53 million
From a technical perspective, GLUU ripped higher here right above some near-term support at $2.10 with monster upside volume. This move is quickly pushing shares of GLUU within range of triggering a near-term breakout trade. That trade will hit if GLUU manages to take out its 50-day moving average at $2.48 and its 200-day moving average at $2.55 and then once it clears more resistance at $2.59 with high volume.
Traders should now look for long-biased trades in GLUU as long as it's trending above Thursday's low of $2.23 or above $2.10 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.53 million shares. If that breakout triggers soon, then GLUU will set up to re-fill its previous gap down zone from August that started at $2.80. If that gap gets will with strong volume, then GLUU could easily tag $3 or $3.25.
To see more stocks that are making notable moves higher today, check out the
Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
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